15 Feb Minnesota Debt Collection
If you have been sued or harassed by a debt collector in the Minnesota it may be time to look at your debt relief options. In most cases your options are pay the debt in full, settle the debt, make reduced payments on the debt, or file for bankruptcy protection. Each option will has advantages and disadvantages, and it is important to have all the information you need to make a good decision about your financial future.
In most cases collecting on past due bills starts with collection calls and letters. This will continue for six to twelve months depending upon the creditor, once they stop the collection attempts with a collection agency, the file is normally forwarded to a collection lawyer for suit. Once the file has been sent to a collection law firm they will probably sue you to recover the unpaid balance, and if you do not respond to the lawsuit they will take a default judgement. Once they have obtained the judgement their most common next step is to garnish wages or a bank account. The creditor can take 25% of your wages or all of the funds in your bank account. You may have exemptions that could help you keep some of your money, but each case is different and the exemptions may not apply to you. If you are facing mounting pressure from bill collectors you need to contact our office to determine your next step.